Tips for Reviewing Your insurance policies

Tips for Reviewing Your insurance policies -
October is the Month Organize your medical information when consumers are encouraged to create a detailed medical information and health history of the family. The goal is to help prevent medical errors and to give people the knowledge they need to make positive changes on health. (To help you in this process, download My Portrait Family Health of the US Department of Health and Human Services and your family health and medical record service A & M AgriLife Extension Texas.)
There is also the ideal time to take a look at your insurance policies, which you understand this and extent of coverage you have and assess if you need to make updates based on changes in your personal situation. I do not know what you should be looking or? Here are some tips to help you in the process.
insurance and life stage
When you are on the continuum of life has some impact on your insurance needs. For example, if you are a bride-with-children some struggling to balance income with outgo, college and retirement may seem far in the future. But time passes quickly, so you want to develop a strategy that includes insurance, savings and investments to cover all bases.
You also want to be sure that the family will be provided in the event of a catastrophic illness or premature death of you or your spouse. Even stay at home spouses must have coverage, as their contribution to the functioning of the family home should be covered in the event of their death. (For an example of why this is so important, watch Dennis and history of Jodie Danduran). Policies can be economic at this time in your life, from the youngest insured, plus the cost of the premium for the same amount of benefit.
For people The living environment -Kids left, but retirement is still a decade or more away, you are probably now in your earning years. Your goal is to make the most of this time to increase your financial stability by saving aggressively for retirement, while protecting you from unexpected setbacks, assessing the extent of coverage of life insurance you have and if the amount would be sufficient to support your spouse in the event of your death.
disability insurance and long term care insurance are two other options you should consider. Disability insurance provides an income for you and your family if you are unable to work due to illness or injury. According to a study conducted by LIFE, half of American workers could not do a month before financial difficulties would be set, with almost one in four unable to do one week. Also, keep in mind that accidents at work only pays for accidents at work, while the vast majority of long-term disabilities are not job-related.
Regarding the cost of long term care, a growing concern for middle-aged and older Americans, the average cost per year in a nursing home is $ 80,000, with home care costs $ 20,000 to $ 30,000 per year for only five hours of care per day. Add to dependents of skilled caregivers such as therapists, and you could see your retirement and savings wiped out before you know it. Your professional financial adviser or insurance can help you assess whether long term care insurance is appropriate for your income bracket. (For more personal experience with disability insurance, look at the history of Barry Shore and insurance long term care, look at the history of Lynda Striepe.)
is retirement just around the corner ? Or maybe you have already closed this chapter of your life and you are preparing for a new one. With this step potentially for decades, you want to ensure that you have enough to keep your "golden years" of tarnish. A life annuity can function as a pension plan do-it-yourself, providing regular payments in exchange for an investment of a lump sum of money.
For 65 years or more, while Medicare is now your primary insurer, there may still have expenses that are not covered, such as coinsurance for skilled nursing and stays palliative care or medical treatment abroad in case of emergency. Consider purchasing additional insurance, or Medigap policy to supplement your Medicare coverage. (For more information, visit this page.)
What to Consider
Although your stage of life certainly has an impact on the type and extent of insurance coverage you have, there are other factors that can have an impact. Here are some additional questions to ask when evaluating your current policies and future needs.

• Do I have less load that would be financially affected by my inability to work or to more-or my death?
• Do I need to update the beneficiaries on my policy?
• there riders or options I have to add my political life as an accelerated death benefit option or conversion?
• do I increase my amount of coverage to ensure the current lifestyle of my family is protected
• If I'm a small business owner, am I following this instead: disability insurance policy, buy-sell agreement and key person insurance?

to make the right choices when it comes to vehicle insurance, planning a review of the policy with your insurance agent or financial professional.
Finally, make two copies of your insurance policies, storing a home in a safe or fireproof file and other off-premises such as a case of bank security. Create a master list of your policy (policy number, the amount of benefits, the insurance company and contact the information agent) and provide a key member of the family and / or your executor and their location.
Now is the best time to get your insurance "house" in order!